A report has predicted the global value of counterfeiting and piracy will reach $2.3 trillion by 2022.

Commissioned by the International Trademark Association (INTA) and the International Chamber of Commerce, the report confirmed that China remained the biggest single source of counterfeit products.

These products include tobacco and alcohol through to fake medicines and cosmetics.

The International Hologram Manufacturers Association (IHMA) said the increasing pace of fake products reflected the rapid globalisation of trade.

"Industrialisation, advanced printing and reproduction technologies, the impact of the internet, vulnerable supply chains, consumer power, weak or ineffectual regional law enforcement, and lenient criminal penalties are also playing a significant part," IHMA stated.

IHMA chair Manoj Kochar said the battle is far from over. "Brand owners and those responsible for legislation must be alarmed at this latest report," he said. "More needs to be done - and quickly - to begin to stem the tide of counterfeit goods flooding into the market.

"And this should include the wider integration of holograms as part of brand protection strategies.” Increasing adoption of security holography in places like India and east Europe strengthens its position as a frontline security feature in the anti-counterfeiting fight.

“Holography has a key role as a highly effective, highly flexible weapon in the ongoing battle to thwart counterfeiters and fraudsters,” he said.